JP Morgan Archives - The Minnesota Sun

JP Morgan Cancels Religious Nonprofit’s Checking Account, Demands Donor List as Condition for Reconsideration

October 18, 2022October 17, 2022 Minnesota Sun Staff

JPMorgan Chase & Co reportedly canceled the account of a religious nonprofit organization for unexplained reasons, and said it would only reconsider the decision if the group provided its donor list, and a list of political candidates it intended to support.

The National Committee for Religious Freedom (NCRF) launched on January 18, 2022 “to defend religious freedom for all Americans and all their religious communities by supporting political candidates at the local, state, and national levels—regardless of party affiliation—who support the free exercise of religion,” according to its website.

JP Morgan Sues Tesla, Says Company Owes It $162 Million

November 17, 2021November 16, 2021 Minnesota Sun Staff

Investment bank JP Morgan filed a complaint against Tesla late Monday alleging the electric car company owes the firm over $162 million.

The complaint centers on stock warrants, financial instruments allowing a buyer to purchase shares at a set price within a certain length of time, that JP Morgan bought from Tesla in 2014. The two firms agreed to a “strike price” at the time of purchase, and they agreed that if Tesla’s share price exceeded the strike price within the agreed-upon length of time, the electric car company would have to give JP Morgan stock or cash equivalent to the difference in prices, JP Morgan said in the complaint.

Costco Raises Minimum Wage to $16, But Won’t Advocate for All Businesses to Follow

March 1, 2021February 28, 2021 Minnesota Sun Staff

Costco will raise its company-wide minimum wage to $16 per hour, a one-dollar increase that raises its wages higher than its fellow big-box retailers, the company’s CEO said during a congressional hearing Thursday.

Costco plans to raise its minimum wage from $15 to $16 because it is committed to paying workers “very competitive retail wages,” CEO Craig Jelinek said during a Senate Budget Committee hearing Thursday. Jelinek stopped short of advocating in favor of a federal minimum wage overhaul, instead saying he was solely focused on Costco.

JPMorgan Foresees an Apocalyptic Second Quarter, with Unemployment Hitting 20 Percent

April 12, 2020April 11, 2020 Minnesota Sun Staff

JPMorgan economists expect the second quarter to be a bad one, with 25 million jobs lost and a sizable chunk taken out of the country’s gross domestic product as the coronavirus pandemic hits its stride.